Schedule Annual Client Review Meetings

We are well into February, and we’ve reached the perfect time of year to schedule annual reviews for your clients who are still working. There are some opportunities for clients with earned income to clean-up before April 15. One of the most basic ways is through IRA contributions. You can use Tax Clarity® to identify opportunities where IRA contributions can be used to reduce the amount of taxable capital gains.

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Posted in Tax Clarity, Tax Map, Taxes, Blog, Tax, Technology, Financial Planning

Hidden Value: Roth IRA Conversions, How Much Is Too Much?

Hidden Value is a column in ThinkAdvisor where Joe Elsasser, CFP®, answers common questions with insights advisors and their clients may not have considered. This week he highlights the importance of evaluating Medicare surcharges and beneficiaries' future tax brackets when considering a Roth conversion. 

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Posted in Joe Elsasser, Hidden Value, ThinkAdvisor, Tax Law, Taxes, Tax

"Last Minute Tax Moves" Webinar Now Available for On-Demand Viewing

Your clients have until the end of the year to harvest from an IRA, execute a Roth conversion, or take a capital lossRecently, President and Founder of Covisum, Joe Elsasser, CFP®, hosted a webinar about optimizing year-end tax opportunities for clients. The webinar is now is now available for on-demand viewing. Watch the webinar when and where it's convenient for you. 

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Posted in Webinar, Joe Elsasser, Taxes, Tax, Tax Clarity, Tax Map

On-Demand Webinar, "Last Minute Tax Moves: What Advisors Need to Know"

Covisum is hosting a free webinar on December 5 at 11:00 a.m. Central Time where advisors can learn how to optimize year-end tax opportunities for clients. Your clients have until the end of the year to harvest from an IRA, execute a Roth conversion, or take a capital loss. Join Joe Elsasser, CFP®, President and Founder of Covisum for this timely discussion. 

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Posted in Webinar, On-Demand Webcast, Taxes, Tax, Joe Elsasser, Tax Clarity

Knowledge Base: Frequently Asked Questions About Tax Clarity

Q: What does the gray portion of the Tax Map represent?

A: The gray portion of the Tax Clarity® Tax Map represents the effective marginal rate (EMR). If you are looking at the “Rate on the next dollar of ordinary income” map, the software indicates at each ordinary income dollar (i.e. IRA distribution, pensions, earned income, etc.) how that ordinary income dollar and other income (Social Security, capital gains, self-employment, etc.) will be taxed. In other words, the software assesses

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Posted in Tax Clarity, Taxes, Tax Map, FAQ

Hidden Value: Beware the Social Security Tax Torpedo

Hidden Value is a new column in ThinkAdvisor where Joe Elsasser, CFP®, answers common questions with insights advisors and their clients may not have considered. This week he discusses how combinations of different retirement incomes can create ugly distortions in tax rates. 

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Posted in ThinkAdvisor, Hidden Value, Joe Elsasser, Taxes, Retirement, Tax Clarity

A Closer Look at the New Tax Clarity Updates: Dependent Tax Credit

Posted on June 26, 2018

At the beginning of April, Covisum rolled out four new features to the Tax Clarity® software. The new dependent tax credit feature allows advisors to demonstrate the impact of the revised dependent tax credit, including for dependents over the age of 16

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Posted in New Features, Tax Law, New Tax Law, Taxes, Tax Clarity, Tax Map

A closer look at the new Tax Clarity updates: pass-through deduction

Posted on June 07, 2018

At the beginning of April, Covisum rolled out four new features to the Tax Clarity® software. The new pass-through deduction feature is particularly important for advisors with certain clients who own small businesses. The update allows advisors to demonstrate the impact of the deduction for pass-through income and the phase-out of the deduction under the 2017 Tax Cuts and Jobs Act.

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Posted in FinancialPlannng, Tax Cuts and Jobs Act, Taxes, Blog, In The News, Tax, Tax Clarity, Tax Reform

Financial Planning highlights survey that suggests consumers want an advisor with tax knowledge

Posted on May 31, 2018

A recent article in Financial Planning highlighted a report from 1st Global that suggests the top priority among affluent and emerging affluent consumers when choosing a financial advisor is tax knowledge. 

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Posted in Taxes

On-Demand Webinar, "Tax Law 2018: What Advisors Need to Know"

Do you have clients who don’t understand the relationship between ordinary and capital incomes? If you do, they could be on their way to potentially significant tax inefficiency in their retirement strategy.

Recently, President of Covisum Joe Elsasser, CFP® and Dave Cechanowicz, JD, MSFS, AIF® AEP and Senior Financial Planner with REDW Stanley hosted a webinar discussing how to capitalize on opportunities from the change in the tax law. The webinar was written about in "ThinkAdvisor" and "

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Posted in New Tax Law, Retirement Planning, Tax Law, Tax Cuts and Jobs Act, Taxes, Joe Elsasser, Financial Planning, Webinar, Tax Clarity, PLANADVISOR, ThinkAdvisor